San Jac Board of Trustees approves property tax rates

Published 4:35 am, Tuesday, October 6, 2015

PRESS RELEASE

The San Jacinto College Board of Trustees approved the 2015 ad valorem property tax rates for the College District during its regularly scheduled meeting on Monday, Oct. 5, 2015.

The rate approved by the Board is 17.5783 cents per $100 valuation of taxable property located within the San Jacinto Community College District. This rate is nearly one cent lower than the rate that was adopted in each of the last three years.

The tax rate is comprised of an assessment for maintenance and operations (12.9194 cents) and a separate assessment for principal and interest due (4.6589 cents) during the coming year on outstanding general obligation bonds. The proposed debt service rate of 4.6589 cents is lower than last year’s rate of 5.8557 cents, due to the increase in certified values as compared to last year.

Based on certified property tax values for 2015 from the Harris County Appraisal District’s (HCAD) on Aug. 28, 2015, the adopted operating rate is expected to result in current year tax collections of $58.02 million for maintenance and operations, which represents approximately 36.7 percent of the College’s unrestricted operating budget. San Jacinto College, like all Texas community colleges, is funded based on three major revenue sources: taxes, state appropriations, and tuition and fees.

The total taxes imposed on a residence homestead at the current year’s average appraised value of $118,805 (excluding special exemptions for persons 65 years of age or older or disabled) at the proposed rate will be $200.05. In 2014, the average homestead appraised value was $109,265, and the 2014 property taxes on that value were $193.52. A taxpayer owning a homestead residence and claiming the over 65 or older or disabled exemption would incur no taxes ($0.00) to San Jacinto College on a residence taxed at the current year’s average market value.

“The San Jacinto College Board of Trustees remains committed to providing an affordable and quality education for residents and taxpayers in our community,” said Mr. Dan Mims, San Jacinto College Board of Trustees Chairman. “As taxpayers ourselves, we are careful about the impact that each decision we make has on our students and community. The value of a certificate or associate degree is real and tangible, leading to higher earning potential, and we are committed to helping students take their education to the next level.”